All the news you need to know this Monday morning.

Australia’s longest-serving treasurer Peter Costello has slamed the governments budget strategy, saying he will be ‘long dead’ before the nation’s debt is paid off. Costello is calling for spending to be slashed by at least $18 billion dollars a year to fix the problem on the eve of the federal budget. He says the national debt won't be erased in the lifetime of most Australians.

Treasurer Scott Morrison has defended himself against accusations that tax cuts will only be worth a “hamburger and milkshake.” Tax cuts worth up to $10.50 a week will be unveiled in tonight's budget. Morrison has also confirmed the budget includes a major shake-up of the aged-care sector.

Tax cuts on the cards in tonights Budget. Image: Getty Images

Former Australian prime minister Bob Hawke has been admitted to Royal North Shore Hospital in Sydney. The 88-year-old former Labor leader is reportedly 'fine' and in the hospital for some minor tests.

Former Australian Prime Minister, Bob Hawke is in hospital. Image: Getty Images

NSW Attorney-General Mark Speakman has promised he will have "more to say" on sexual consent laws. The New South Wales Government has referred the state's consent laws to the Law Reform Commission following the debate about the nature of sexual consent laws in Australia. The laws differ between the states and territories.

NSW Attorney-general Mark Speakman. Image: Twitter/Mark Speakman

Online gambling company Lottoland is fighting for its life - and is prepared to take its battle against the Turnbull Government all the way. The company's CEO Luke Brill has said he will flag a High Court petition if the Turnbull government passes legislation to ban betting on overseas lotteries.

Lottery tickets. Image: Getty Images

Vladimir Putin has been sworn in as Russian president for another six years - promising to serve the people and fatherland. He won 70 percent of the vote after his most serious opponent was barred from running, and has nominated Dmitry Medvedev for the post of prime minister.

Vladimir Putin has been sworn in as Russian President: Image: Getty Images

And American funnyman John Oliver has announced he is “done” hosting his show Last Week Tonight following a tweet by Australian actor Russell Crowe. Crowe and the Irwin family jokingly unveiled The John Oliver Koala Chlamydia Ward at Australia Zoo after Oliver revealed he purchased the groin-protecting jockstrap worn by Crowe in the film Cinderella Man.